The Vuca Company Book & Workshop Introduction

Failure The Force Multiplier

Turbulence Has A New Word-VUCA

Volatility Rate of ChangeUncertainty Unclear about present situation and future outcomeComplexity Multiplicity of Key Decision FactorsAmbiguity Lack Of Clarity About Meaning Of An Event

Understand Dynamics of VUCA Business Environment Where Slippage Will Be Frequent And Recovery Slow And Painful"Those who failed to navigate the rapid changes brought about in their marketplace did so not because they are not smart or aware, but because the speed of change is simply overwhelming them. Thomas Friedman-The World Is Flat

Page #SALTLABSLife Long EmployabilityExamplesVolatility turbulence Foreign exchange, social media, trade liberalization, global competition, digitization. YouTube gets more than 100 hours of video content added every minute; and over 175 million tweets are added to Twitter timelines every single day . These did not exist 10 years back.We used Facebook to schedule the protests, Twitter to coordinate them and YouTube to show the world. An Egyptian protest leader

Uncertainty-U is lack of predictability

forecasting extremely difficult and decision-making challengingIndian elections, India-US relations,

Complexity - C difficult to understand causes and mitigating factors inside and outside the organization. Economic power is shifting from West to East. Africa is rising at the peripheryEngland took 100 years to double its GDP, America took 50 years, India took 16 years and China 12.For the last century, the developing world produced for the developed world to consume. But by 2020, emerging Asia will become the worlds largest consuming block, overtaking North America. By 2028, India will become the second most competitive manufacturing nation. Narayana Hrudalaya is the largest heart hospital is the world and also the cheapest. Ready to export this expertise.Indian multinationals are spanning the world from Brazil to Australia.Ambiguity -A lack of clarity about the meaning of an event or, the causes and the who, what, where, how, and why. potential for confusion and misunderstanding within organisation.

1

Evolution of VUCA

US Military Engagementsin Iraq and Afghanistan

Todays Business EnvironmentIs No Different

Page #SALTLABSLife Long Employability

2

As a business leader, youve noticed theres been volatility and change in your world.

To survive in this NEW NORMAL, organizations must do things differently. Our goal with The VUCA Company book & workshop is to offer a PATH FORWARD and get you thinking about what you need to do, and where you should start.


3

A rapidly evolving, dynamic, chaotic, complex business environment is the norm rather than the exception.

Thats Not The Problem

The fundamentals of business leadership and corporate strategy havent evolved at the same pace creating a gap between social behavior and business practices.Thats The Problem

We are in a new world, using old tools Thomas Friedman, The World is Flat


4

In VUCA World,To Embrace The FutureMemorise The PastEspecially The PainfulEvolve or get endangered


5

Everybody Fails

Even Mahatma Gandhi failed in hisFirst Satyagraha

He reflected, learnt, changed strategy and succeeded spectacularly

Our greatest glory is not in never fallingBut in rising every time we fall Confucius

Page #SALTLABSLife Long EmployabilityFirestone Bombay Chemicals Given such high stakes, it is not surprising such terms like agility, resilience, adaptability and innovation reverberate off the walls in corporate headquarters. Are these only words? Because the demise of companies and industries would be increasingly fast. The average life span of an S&P 500 company has steadily decreased from more than 50 years to fewer than 25. Projecting forward, its likely that only about one-third of todays major corporations will survive as significant businesses for the next quarter century. Brands like Murphy, Dunlop, Nirlon and companies such as NOCIL, HMV, KODAK. Tomorrows failures are happening today-SONY.For every successful venture there are 2 that fail=====================================================There is a 1 in 2 chance that executives will eventually fail64% of new executives hired from outside wont succeed in their new jobs 40% of newly appointed executives will derail within the 1st 18 months25% of Executives become a victim of their own success

The difference between those those succeed and those who fail and take their companies towards a downward spiral is not obvious. What are the underlying causes of failure?What should aspiring executives be alert to?What steps can organisations take to prevent or limit the impact of failure?Inability to deal with complexity and ambiguity6

Sound leaders understand the importance of learning from failuresIt turned out that getting fired from Apple was the best thing that could have ever happened to me, Stephen Jobs, Stanford 2005 We have only ourselves to blame Satish Reddy, Dr Reddys, Forbes, 2011 (Failure of German Acquisition)I need to blame myself, I am the leader of the side. I am the main culprit so of course I blame myself. M.S.Dhoni, Jan 2012 (after Australia debacle).When I reached rock bottom, I could make a solid foundation. J.K.Rowlings Author of Harry Potter Series. . failure in attaining Samarkand was the greatest gift Allah bestowed me.. Moghul Emperor Babur in BaburnamaI have made my share of business mistakes, but every failure contains the seeds of your next success. Paul Allen (Microsoft Promoter)

Page #SALTLABSLife Long EmployabilityUnless one develops a capability to learn from failure, the opportunity goes waste. It only opens the door for bigger failures in future. Self-awareness is the first step in acknowledging that a failure has occurred. Steve Jobs video clip7

Failures Are Intensely Pursued Today

Page #SALTLABSLife Long EmployabilityFailure has come out of the closet.

Resilience - a key competency in an executive, especially at senior levels, . Failure and Mistakes. We universally, pay homage to success and best practices. Many books look at 20 companies and say these the attributes of success but what about those companies which had the same attributes but failed. Most failures occur while operating within the confines of the law.It is tempting to assume that people who were selected to run billion dollar companies were stupid or incompetent or failed to execute or lacked resources but that is not the case too. These people had excellent track record. So what led to gigantic failures like Lehmann Brothers and General Motors. Unlike these companies which went down, there were others which resurrected themselves from near bankruptcy. We will examine these issues.

8

Why Learn From Failure

Knowledge & Skill Development is Not Enough. In VUCA world skills are growing obsolete as quickly as their organizations change

Resilience & Adaptability Are Key Competencies.

To institutionalize learning from failure in your organization

Failure is the opportunity to begin again, more intelligently. Henry Ford

Page #SALTLABSLife Long Employability9Unless one develops a capability to learn from failure, the opportunity goes waste. It only opens the door for bigger failures in future. Self-awareness is the first step in acknowledging that a failure has occurred.

Top-down strategies designed to increase control and find tried-and-true solutions may not be a source of competitive advantage in todays turbulent economy.

Ability to learn and adapt is the only truly unique source of competitive advantage. Organizations must continuously learn from their surroundings and their actions, making modifications accordingly. The more often an organization repeats this cycle of ongoing renewal, the better it will become at enhancing its adaptive capacity and its ability to achieve results.Perhaps no one captured this linkage between an organizations ability to adapt and its competitive edge more poignantly than Jack Welch in his final letter to GE shareholders:What sets GE apart is a culture that uses diversity as a limitless source of learning opportunities, a storehouse of ideas whose breadth and richness is unmatched in world business. At the heart of this culture is an understanding that an organizations ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage.

Companies Are Dying Faster

Standard & PoorEvery Success Sows The Seeds Of Its Own DestructionR. Gopalkrishnan, Director Tata Sons


10

Is Your Organisation VUCA Ready?

Read The Book

Join The WorkshopSo give me a turbulent world as opposed to a quiet world and I will take the turbulent one. Andrew Grove

Page #SALTLABSLife Long Employability11

The BookThe VUCA Company{ Volatility Uncertainty Complexity Ambiguity} The VUCA Company authored by Suhayl Abidi, a 30 years industry veteran and Dr. Manoj Joshi, Professor of Strategy, is a study of 12 Indian companies which did not succeed in the VUCA environment and offers common causes of failure and suggests the roadmap for avoiding or recovering from failure.Foreword by Shikha Sharma, CEO, Axis Bank

Published by Jaico Publishing HouseAugust 2015 (Rs.350)


Authors of The VUCA Company

Suhayl AbidiA practitioner of Organisational Learning & Knowledge Management. An MBA from FMS Delhi and PG Diploma in Information Management from Leeds Polytechnic, UK, he has, for 25 years worked for organisations such as Penguin Publishing, The British Council, Saudi Ports Authority, Reliance Industries, Essar and Piramal Healthcare in the Information & organisation learning domain. He has written a number of articles in leading business papers and magazines.

Dr. Manoj Joshi, PhD

Dr Manoj Joshi, PhD (Strategy), Fellow Institutions of Engineers India, is a Professor-Strategy, Entrepreneurship and Innovation, Amity Business School with nearly 30 publications in international journals. He is the Asia Editor for International Journal of Entrepreneurship and Innovation; Regional Editor India, Journal of Family Business Management and editorial board member on a dozen international journals.


From The Foreword Of The VUCA Company

This book is a must read for management practitioners, students, aspiring leaders and all those who believe in continuously sharpening their skills to meet the challenges in a rapidly changing and uncertain environment.

Shikha SharmaMD and CEOAxis Bank


Praise for The VUCA Companyan interesting book and a comprehensive guideline for those who look for a more realistic business environment in which companies operate. I highly recommend this book to students, scholars, policy makers, entrepreneurs and business persons who strive to succeed and to be as effective and efficient as possible in this "VUCA world"!Aidin Salamzadeh, Editor-in-Chief, Journal of Entrepreneurship, Business and Economics (Canada)The title is very apt in the current scenario of globalization, fast changing technology disruption, willingness to adopt non conventional business models and re-imagination of digital world.The caselets chosen are very appropriate and will help understand the concept in a localized context.Arvind Kumar, Delivery Head, Tata Consultancy Services

The book provides some useful lessons drawn from failures in an increasingly complex world. A recommended read for those who wish to navigate successfully in the troubled waters of corporate uncertainty. Dr. Himanshu Rai, Chairperson, MDP, IIM-Lucknow


Praise for The VUCA Company"Ours is an age of innovation and rapid transformation. The VUCA Company offers an important set of insights and ideas to make this transformation viable. Building on an incredibly large body of research and professional experience, the authors masterfully inspire our creativity and need for discovery. I compliment the authors on a job very well done."Shaker A.Zahra, Professor & Department Chair, Robert E. Buuck Chair of Entrepreneurship,Carlson School of Management, University of MinnesotaThis book is a major contribution - a game changer. It is worth every rupee. Buy it and learnDr Gerard McElwee, Professor of Entrepreneurship, Sheffield Business SchoolEditor: International Journal of Entrepreneurship and InnovationThe lessons from this book will be of great significance for the development of Indias management and organizations. This is an extremely timely book.Michael Gibbs, Faculty Director,Executive MBA Program, Clinical Professor of Economics, The Univ. of Chicago Booth School of Business


Praise for The VUCA CompanyThis book addresses a powerful issue that spans a wide spectrum of debate and offers blended strengths. All and all, an excellent volume with the right balance in the correct context.Sandip Anand, Associate Professor at Xavier Institute of Management" I am delighted to go through the initial manuscript of the book- "The VUCA Company". The book provides insight as to how organizations could face the challenges of VUCA and continuously move on endless journey of excellence.C V Singh, Enterprise Excellence Consultants, Ex Vice President, Tata Motors."This is a fascinating book on a long-overdue topic. Without understanding failures we can never truly understand long-term success. It is clear that past models of business success are outmoded in today's environment, and this book should inspire much thought and - more importantly - action."Prof.Nick Lee: Professor of Sales and Management Science, Loughborough University and Editor in Chief: European Journal of Marketing

and many others


The VUCA Company WorkshopDeveloping Resilience & Adaptabilityin The VUCA WorldA Workshop Derived From the BookThe VUCA Company

Suhayl AbidiIn Collaboration WithLen DCosta & Murali Aiyer

Page #SALTLABSLife Long Employability18Unstable and fast changing worldMicro and macro changes

Only Workshop Of Its Kind in IndiaThe Workshop takes off where the book leaves youIndian case studies developed in-houseExercises developed In-houseMulti-media video clipsInteractivePre workshop readingPre & In-workshop exercises

Evolve Insights & Tools To Increase Employability of People and Longevity of OrganisationsThe illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.Alvin TofflerThe program will be especially useful to Business Leaders, Unit/ DepartmentHeads, Executives across functions in any organisation, SMEs andEntrepreneurs responsible for delivery of results.It is also useful to people from all walks of life including academics whoinculcate Resilience among students to handle setbacks, failures and buildan understanding about what could sabotage success.


19

Workshop FacilitatorsSuhayl AbidiLen DCostaAn XLRI alumnus, 35 years of corporate experience. Former Vice President HR for the Taj group of Hotels and Former President Corporate Development and HR Piramal group Currently Non Executive Chairman of a Cement company He is a leading HR consultant, a change leader and facilitator for Leadership Grid, Service Excellence and CEO coach and Mentor

Murali Aiyer

Business Graduate and alumnus of Oberoi School of Learning and Development Former Director of HR for Crisil Limited aStandard and Poors company and Former Director of Training Carlson Hospitality HR domain expert in Retail, Hospitality, Finance,Real Estate and Manufacturing sectors


You Might Travel The World Seeking The Best Teacher, Only to Discover That it is

You"Good Judgement Comes From Experience, Experience Comes From Bad Judgment Einstein

Page #SALTLABSLife Long Employability2121Lever is the consummate performer. And though his on screen appearances have reduced substantially in the new millennium, he keeps his craft sharp through his shows. Stand-up is his first love. My first show was in Patkar Hall next to Bombay Hospital. It was a total flop. I was so nervous standing in front of all those people that I completely froze. I forgot all my lines and the audience booed me off the stage. I realised that day that you have to earn the audiences appreciation. They arent fools.

To his credit Lever didnt slink off, tail between legs. He practiced long and hard, got back on the same stage, and won the audience over. I had this determination to make it, on that very stage. It was like a fire within me. And I did. Even today I consider Patkar hall as my lucky venue. I try out all my new material on that stage.

Lever has learnt the lessons of that first, humiliating day well. Its what drives his almost protestant work ethic. I practice for hours in front of the mirror. I constantly deliver my routine in front of my friends. And it is this devotion to his craft that he finds missing in contemporary comedians.

We Need to Learn From Failures Today More Than Ever

VUCA Environment is here to stay and will only increase in intensityYou may model, manage or mitigate aspects of risk But you MUST prepare for uncertainty!


To know more about the bookThe VUCA CompanyAndOur WorkshopsContactSuhayl Abidi

Mob: +9193240 53831 Email: [email protected] www.vucacompany.com


1. Molto AllegroWiener Philarmoniker, con. James Levine 40, g-moll, K 550Classical471052.03 -

The Vuca Company Book & Workshop Introduction

Leadership & Management

Transcript of The Vuca Company Book & Workshop Introduction